Expert Says Trump’s 50% Tariff on EU Imports Presents Dip Opportunity for Bitcoin and Altcoins
The post Expert Says Trump’s 50% Tariff on EU Imports Presents Dip Opportunity for Bitcoin and Altcoins appeared on BitcoinEthereumNews.com.
Popular market veteran Michaël Van de Poppe remains unshaken by the recent market correction, predicting that this panic moment would soon provide massive returns. The broader crypto market experienced a major dip after President Donald Trump slapped a 50% tariff on all imports from the European Union. Earlier this week, the prices of major crypto assets surged tremendously thanks to a Bitcoin-led relief rally. Following the recent surge, Bitcoin set a new all-time high (ATH) record of $111,970 yesterday, May 22. Altcoins followed suit and also saw slight gains. Trump Announces 50% Tariffs on EU Imports However, the rally was short-lived. The broader financial markets, including crypto, tanked after Trump floated a plan to impose a 50% tariff on imports from the EU region. In a Truth Social post, President Trump disclosed that dealing with the EU has been challenging lately. According to him, the region’s policy, including its VAT taxes, trade barriers, monetary manipulations, and unfair lawsuits against American companies, have caused the U.S. an annual deficit of $250 million. He emphasized that this $250 million deficit is unacceptable, adding that recent discussions with the EU have ended in futility. As a result, he imposed a 50% tariff on all imports from the EU starting June 1, 2025. Notably, he clarified that the 50% tariff would not apply to goods manufactured by EU companies in the U.S. President Trump proposes a 50% tariff on the European Union starting June 1, 2025. pic.twitter.com/bshvvMUyxx — TheCryptoBasic (@thecryptobasic) May 23, 2025 Cryptos React As expected, Trump’s 50% tariffs on EU imports spooked the financial markets, including crypto and stocks. Investors feared the move could result in a trade war between the EU and the U.S. This prompted many investors to sell their crypto holdings, leading to a broader market crash. Specifically, Bitcoin,…
Filed under: News - @ May 23, 2025 7:22 pm